Seniors have tax advantage

Written by Brooks Taylor
Friday, 11 January 2013 20:59

Growing older may not be cause for celebration, but if a taxpayer was born in 1947 and turned 65 last year, there’s one bit of good news: he or she qualifies for an additional exemption from ad valorem taxes assessed to property they own.The state of Mississippi offers all eligible taxpayers a regular exemption from ad valorem taxes – with limits. The exemption is limited to the first $7,500 of assessed value of the property, but it is capped at a maximum of $300.